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SEC steps up scrutiny of 'dark pools'

The Securities and Exchange Commission is understood to be probing a number of big "dark pools" to find out if the private trading venues are properly disclosing to clients how they operate, treating all investors fairly and protecting confidential client information, among other concerns.

Among the off-exchange electronic trading platforms under investigation by the SEC is LX, which is operated by Barclays, sources told The Wall Street Journal.

Separately, the Senate's Permanent Subcommittee on Investigations said on Monday that it plans to hold a hearing next week focusing on potential conflicts of interest between trading venues and some of their customers.